Memo on Southwest deal offers more details on Hobby expansion plan

Wednesday’s announcement that Southwest Airlines and the city have a deal for the airline to pay for a $100 million expansion of Hobby Airport had cheering employees, shuttles taking city staffers down I-45 to attend the event, dignitaries such as former Lt. Gov. Bill Hobby, a podium and PA system set up in the main lobby.

In short, it had everything except the, um, deal.

The mayor’s office released the six-page memorandum of understanding shortly before 6 p.m. Wednesday.

It’s thick with legalese and financial jargon, but also fills in some details on the timeline. Construction is scheduled to begin in mid-to-late 2013 with an opening of the five international gates and customs facility in late 2015.

Other aspects of the deal:

Southwest will design and build the project.

Southwest will comply with city goals to hire minority and women contractors and preference for local firms.

Southwest controls four of the five gates as long as they conduct at least four departures and four arrivals daily on each gate.

The deal can be changed by whatever lease agreement the city and Southwest negotiate by the time the current lease expires in June 2015.

If the two sides can’t agree on what’s known as Project Definition Manual — which covers specifications and other details — or a new lease, Southwest doesn’t have to build.